Common use of Evidence of Loans Clause in Contracts

Evidence of Loans. (a) The Lender shall maintain accounts evidencing the indebtedness of the Borrower to the Lender resulting from each Loan made by the Lender from time to time, including the amounts of principal and interest payable and paid to the Lender in respect of Loans. (b) The Lender's written records described above shall be available for inspection during ordinary business hours by the Borrower from time to time upon reasonable prior notice to the Lender. (c) The entries made in the Lender's written or electronic records and the foregoing accounts shall be prima facie evidence of the existence and amounts of the indebtedness of the Borrower therein recorded; provided, however, that the failure of the Lender to maintain any such account or such records, as applicable, or any error therein, shall not in any manner affect the validity or enforceability of any obligation of the Borrower to repay any Loan actually made by the Lender in accordance with the terms of this Agreement.